Explicit Value correct answers MISSION STATEMENT can help achieve this. Strategies and practices should be clearly stated principles that can be widely shared within organization. Simple, short, actionable and emotionally resonant. PATAGONIA: "Build the best product, cause unnecessary harm"
Thou...
Quiz 1 - MBA 650 || with 100% Errorless Answers.
Explicit Value correct answers MISSION STATEMENT can help achieve this. Strategies and
practices should be clearly stated principles that can be widely shared within organization.
Simple, short, actionable and emotionally resonant. PATAGONIA: "Build the best product,
cause unnecessary harm"
Thought During Judgement correct answers If people who lead or are in the organization
conscientiously think about if something is right or not is a good indication of an ethical org.
Behavior is usually guided by what comes to mind right before an action. Ethics should be at the
center of attention.
Asking: Is this right? Is much better than Is this legal?
What are the 4 pillars of an ethical culture? correct answers 1.Explicit Values
2.Thoughts during judgement
3.Incentives
4.Cultural Norms
Incentives (pro-social) correct answers -Money only goes so far, programs must have a variety of
rewards to be successful such as meaningful work, positive impact, being respected or
appreciated by other
-Provide incentives for employees to want to be rewarded through praise and validation.
-Or pro social programs, give incentive to allow employees to give a small reward to their
teammates
-Crucial to ethical behavior success
Cultural Norms: Tone @ Top vs. Tone @ Middle correct answers -Leaders should focus on the
ones who are doing GREAT things, not the bad ones
-If large group is lying and cheat then others will too, regardless of what leader is doing
-Whatever peers are doing, most will continue doing. So leaders should highlight the good things
that are being
What is the main problem with CSR programs and how do we fix this problem? correct answers
There are many instances where business is the blame for negative societal/environmental
impacts. Companies are pressured to incorporate CSR in GENERIC ways, instead of ways most
appropriate for a firms strategy. Corporate success and social welfare need to be looked at
interdependently. Businesses can meets peoples needs (generate revenue) and give back to
society
What are the fundamental of strategic CSR? correct answers 1. Generic Social Issues
, 2. Value Chain Social Impacts
3. Social Dimensions of Competitive Context
Generic Social Issues correct answers Issues that are not significantly impacted by companies
operations or long-term competitiveness eg just being a "Good citizen" or not doing anything
illegal
Value Chain Social Issues correct answers Social issues that are significantly affected by a
company's activities in the ordinary course of business
Example: Starbucks Shade Grown Beans and Organic Beans, and Chipotle and Migrant Workers
Social Dimensions of Competitive Conext correct answers Social issues in the external
environment that impact drivers of a company's competitiveness in the locations where it
operated
What are the 2 elements of responsive CSR? correct answers 1. Acting as a good corporate
citizen and aware of evolving concerns of stakeholders
2. Mitigating existing or adverse effects from business activities (this is extremely challening!) -
mitigating harm from value chain activities
Strategic approach to CSR correct answers involves both inside out & outside in dimensions
working in tandem where opportunities of shared value exist
major business opportunities exist if strategy and society is linked with each other
*strategic philanthropy that leverages capabilities to improve salient areas of competitive context
What are two elements of strategic CSR? correct answers 1. Transform value chain activities to
benefit society while reinforcing strategy
2. Strategic philanthropy that leverages capabilities to improve salient areas of competitive
context
Why do some companies achieve sustained high growth in both revenues and profits? correct
answers It is in the way they approach strategy. They pay little attention to what there to
matching or beating their rivals. They seek to make competitors irrelevant in process known as
VALUE INNOVATION
Definition of value innovation: correct answers Creating products or services where there are no
direct competitors. Instead of searching within the conventional boundaries, manager must look
beyond boundaries to find unoccupied territory that represent real value innovation.
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